Gold Prices End Down for 2nd Day, US Bullion Eagle Gold Coin Rallies

by Bullion Prices Staff on March 28, 2012

U.S. gold prices fell slightly Tuesday but dropped hard Wednesday. April gold futures declined $27, or 1.6%, to $1,657.90 an ounce on the Comex division of the New York Mercantile Exchange. The metal traded between an intraday low of $1,654 an ounce and a high of $1,684.50 an ounce.

"I have a positive view of gold from these levels," BNP Paribas analyst Anne-Laure Tremblay said, according to Reuters. "Fundamentals are still supportive and we assume some form of monetary policy accommodation to take place in the United States by mid-year."

May silver futures prices fell 69.1 cents, or 2.1%, to close at $31.93 an ounce. It was the second worst performing precious metal behind palladium which dropped 2.4%. In dollar terms, June palladium prices lost $15.65 to $647.35 an ounce. Wrapping up precious metals, April platinum futures prices fell $22.30, or 1.3%, to $1,635.20 an ounce.

United States Mint Bullion Sales

United States Mint gold bullion coins blasted off Wednesday after being conspicuously quiet since Friday. In a single day, buyers snapped up 17,000 bullion Eagle gold coins — more than any weekly total from this month. Also showing on the sales board was 3,000 more bullion Buffalo gold coins.

The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.

Sales of United States Mint 2012 Bullion Coins

Mon

Tue

Wed

Mar

2012 Sales

1 oz American Eagle Gold Coin

0

0

17,000

56,500

161,000

1/2 oz American Eagle Gold Coin

0

0

0

2,000

51,000

1/4 oz American Eagle Gold Coin

0

0

0

0

40,000

1/10 oz American Eagle Gold Coin

0

0

0

30,000

120,000

1 oz American Buffalo Gold Coin

0

0

3,000

26,000

46,500

5 oz America the Beautiful Silver Coins

400

0

0

1,800

7,800

1 oz American Silver Eagle

250,000

25,000

0

2,412,000

10,009,000

Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, March 26, 2012. All other bullion sales have an "as of date" of Wednesday, March 28, 2012, as published on the Mint website.

As expected and mentioned here Tuesday, the United States Mint trimmed the Platinum Eagle price by $100. The collector proof coin is now available for $1,892 through the Mint’s website at http:///www.usmint.gov.

London Bullion Prices

Earlier fixed London bullion prices fell, although a bit less New York metal futures. The following grid offers London PM Fix daily prices through this week and gains over the most recent two-days.

London Fixings (PM)

Mon

Tue

Wed

Daily Gain
($/%)

Silver Prices

$32.23

$33.01

$32.43

-$0.58
-1.8%

Gold Prices

$1,680.25

$1,692.00

$1,676.00

-$16.00
-0.9%

Platinum Prices

$1,639.00

$1,662.00

$1,642.00

-$20.00
-1.2%

Palladium Prices

$664.00

$667.00

$651.00

-$16.00
-2.4%

Refer to this site’s home page for always updated bullion prices and news.